Money

By Alicia Wallace, CNN (CNN) — What a jarring way to start the month of August. Last month’s job growth was far, far softer than expected, and the unemployment rate shot to its highest level since October 2021, according to new data released Friday by the Bureau of Labor Statistics. July’s surprisingly low estimated employment

By Matt Egan, CNN New York (CNN) — Americans instantly zip billions of dollars a day to each other on Zelle and other payment apps to do everything from pay the babysitter to split restaurant bills. The speed and convenience of these payment platforms have simultaneously made them insanely popular and a magnet for con

By Laura He, CNN Hong Kong (CNN) — Japanese stocks plunged Friday as global markets were rattled by worries about the US economy and as traders braced for further interest rate hikes from the Bank of Japan. The Nikkei 225 ended 5.8% lower, the index’s biggest daily drop since March 2020. It extended a global

By Oliver Darcy, CNN New York (CNN) — Champagne bottles popped. Thunderous cheering filled the room. Smiles animated faces from corner to corner. When official word made its way to The Wall Street Journal newsroom that Evan Gershkovich had been released from Russian custody Thursday, unadulterated elation washed over the journalists who had taken part in

By Juliana Liu and CNN staff Hong Kong (CNN) — Online shopping site Temu has faced tough questions before about its business practices. Now it has a new problem: a backlash from independent merchants based in China who sell their products on the wildly popular rival to Amazon. Hundreds of them staged a demonstration this

By Ramishah Maruf, CNN New York (CNN) — A California judge threw out a jury verdict ordering the NFL to pay more than $4.7 billion for anti-trust violations surrounding its “Sunday Ticket” package, which lets fans watch games outside of their home markets but required them to buy access to a bundle of games to do

By Ramishah Maruf and Nathaniel Meyersohn, CNN New York (CNN) — Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second-quarter earnings Thursday. “Simply put, we must align our cost structure with our new operating model and fundamentally change the way

CNN By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s social media fortune is shrinking. The value of Trump’s stake in the corporate owner of Truth Social has dropped by $900 million since Vice President Kamala Harris entered the race for the White House on July 21. Trump Media & Technology Group’s

By Krystal Hur, CNN New York (CNN) — Stocks tumbled Thursday after fresh data stoked fears that the US economy is weakening as interest rates stay at a 23-year high. The Dow slid by 496 points, or 1.2%, after plunging more than 700 points earlier in the session. The S&P 500 lost 1.4% and the

By Oliver Darcy, CNN New York (CNN) — Don Lemon on Thursday filed a lawsuit against Elon Musk and X after the erratic billionaire canceled a planned partnership that would have seen the former CNN anchor create a talk show on the embattled social media platform. Musk abruptly canceled the well-publicized deal with Lemon earlier this year

By Matt Egan, CNN New York (CNN) — Former President Donald Trump’s social media fortune is shrinking. The value of Trump’s stake in the corporate owner of Truth Social has dropped by $900 million since Vice President Kamala Harris entered the race for the White House on July 21. Trump Media & Technology Group’s share

By Pete Muntean and Samantha Waldenberg, CNN (CNN) — Airlines would no longer be allowed to charge parents extra fees for their kids to be seated next to them under a new rule proposed by the Biden administration. White House officials say their “fee-free family seating” proposal could potentially save parents up to $200 per

By Alicia Wallace, CNN (CNN) — The pandemic threw the US job market into chaos, but four years later, things finally seem to be back to normal. Monthly job gains have slowed but remain stable, labor demand and supply have come more into sync, there hasn’t been a rash of layoffs and the overall economy

By Hanna Ziady, CNN London (CNN) — The Bank of England cut interest rates Thursday for the first time since the start of the pandemic, providing some relief to households squeezed by the highest borrowing costs in 16 years. The decision takes the benchmark interest rate in the United Kingdom to 5% from 5.25%, where

By Elisabeth Buchwald, CNN New York (CNN) — People are getting impatient with the Federal Reserve. For the past year, the Fed has kept interest rates at their highest level in more than two decades, making it more expensive to get a mortgage, borrow money and pay off debt. Now the central bank is mulling

By Erika Tulfo, CNN (CNN) — Tucked away in the mountainous highlands of Chiapas in southern Mexico, around 150 coffee farmers on the Edelmann family farm work with their hands for hours on end. The shade of tree canopies is the only barrier between their bodies and the summer sun. Tomas Edelmann, a fourth-generation coffee

By Hadas Gold, CNN New York (CNN) — London police are looking into allegations that recently installed Washington Post publisher Will Lewis oversaw the intentional mass deletion of emails more than a decade ago while he was tasked with cleaning up a phone hacking scandal that roiled Rupert Murdoch’s UK tabloids. In a piece published Wednesday in the Guardian,

By Ramishah Maruf, CNN New York (CNN) — Some Instagram posters got a shocking notification from the app Wednesday: Certain photos have been permanently deleted from the app’s Stories archives, unable to be recovered. “This story is no longer available,” some users saw on certain Stories. “Due to a technical issue, this story is no

By Erika Tulfo, CNN (CNN) — It’s a summer for single-digit dollar deals as IHOP and Denny’s join other big-name food chains in offering value menu options. The two companies are the latest restaurants trying to appeal to consumers being more selective with their dollars in the wake of price increases. IHOP announced this week